Energy bar market was valued at USD 2986.67 Mn. in 2020. It is expected to reach USD 3608.09 Mn. by 2027, expected to grow at a CAGR of 3.31% from 2021 to 2027.
Energy bar Market Overview:Energy bars are made with various ingredients with the most commonly used being oats, almonds, peanuts, different seeds and grains, coconut oil, honey, soy, Choco chips, various fruits, and dry fruits, etc. The use of highly nutritive and energy grains are key to the formulation of energy bars. Among all the ingredients used, few people are allergic to peanuts, soy, milk, egg, sesame, and others. Sports nutrition products have increasingly gained popularity, mainly among athletes and individuals involved in vigorous physical activities. The growing emphasis on staying healthy and in shape, and increasing participation in sports, health clubs, sports clubs, and gyms are some of the key drivers contributing to the growth of the global energy bars market. To know about the Research Methodology :- Request Free Sample Report
Global Energy bar Market Dynamics:Owing to fast-paced lifestyles and the need for instant energy among adults, there has been a growing demand for healthy and convenient food that can be consumed instantly without any preparation. Energy bars, which are packed into small quantities containing high amounts of instant energy and all the daily essential nutrients and micronutrients, have been widely adopted, thus, propelling the market growth. Also, the growing trend of on-the-go snacking is becoming extremely popular among children owing to their need for regular meals while adults prefer them due to active hectic lifestyles. Other factors, such as growing disposable incomes, ease of carrying, and increasing health concerns, are also augmenting the market growth. As per government sources, the employment rate in the United States is at around 61% in 2019, which amounts to over 157 million people having a busy daily life and smaller breaks in between. With consumer spending increasing on packaged foods and there being no time to prepare meals, people are turning toward convenience foods, like energy bars, for their energy requirements on the go. In 2019, 75% of American bar consumers ate them as a snack while 60% replaced a traditional breakfast with the more portable option. Moreover, 30% of Americans say it’s hard to prepare meals, given their busy schedules. Energy bars are made with various ingredients with the most commonly used being oats, almonds, peanuts, different seeds and grains, coconut oil, honey, soy, Choco chips, various fruits, and dry fruits, etc. The use of highly nutritive and energy grains are key to the formulation of energy bars. Among all the ingredients used, few people are allergic to peanuts, soy, milk, egg, sesame, and others. This restricts the products’ wider acceptability on account of fear of allergic reactions and hence, restricts the market’s growth. Soybean is one of the most common foods which cause allergies, particularly among children and babies. Studies reveal that children are allergic to soy only in early childhood and they outpace the allergy in later years. Consumption of soy-based energy bars can have catastrophic effects on those who are allergic to them. Nutrition and allergy experts estimate that 32 million people in the United States have food allergies, including to tree nuts, peanuts, and eggs, and may also be lactose or gluten intolerant. Among these, 12 million of them require medical attention or visits to the emergency room every year. This huge proportion of the population is limiting the consumption of energy bars, thus, restraining the market’s growth.
Global Energy bar Market Segment Analysis:On the basis of type, the energy bar market is segmented into an organic and conventional energy bars. The conventional energy bar segment is expected to hold the largest market share by 2027. The organic energy bar segment of the market studied was valued at USD 448.57 million in 2020, and it is projected to reach USD 649.10 million by 2027 while recording a CAGR of 6.32% during the forecast period (2021-2027). Consumers are increasingly going health-conscious when it comes to bite-in-between meals. Thus, there is a growing awareness of various health effects of artificial additives, such as color, flavor, sweeteners, and preservatives, which, in turn, has accelerated the demand for an organic energy bar. Organic energy bars, free of additives, like sugar, gluten, and GMO and are naturally flavored, are in high demand and witness strong sales in countries, like Argentina, Brazil, Columbia, South Africa, Egypt, Saudi Arabia, and European countries. Energy bars containing chia seeds, flaxseed, whey protein, pumpkin seeds, nuts and fruits, soy protein, and natural flavorings are gaining popularity among the masses, compared to the conventional energy bars. The conventional energy bar segment holds the highest market share during the forecast period. Consumer demand for easy and nutritious on-the-go snack choices has been the primary driver of energy bar sales across the world. Moreover, consumers' evolving lifestyles, which include eating fewer meals, also contribute to a rise in snack consumption, which is expected to drive demand for energy bars. In addition, the availability of energy bars in various flavors has resulted in a significant rise in demand for these items. Moreover, these bars are not the same as protein drinks or energy drinks, which contain caffeine, which is harmful to one's health and can cause muscle tremors. In addition, energy bars have a variety of proteins, fats, and carbohydrates, as opposed to protein bars, which only aid in protein synthesis, resulting in muscle mass production. Furthermore, the market for energy bars is growing due to the associated convenience of consumption to improve energy helped by disposable packaging that prevents the bars from coming into contact with hands, keeping them clean to function at the same time. On the basis of distribution channel, it is segmented into Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online Stores, and Others. The Supermarkets or Hypermarkets segment is expected to hold the largest market share by 2027. Over time, consumer demand for easy and nutritious on-the-go snack choices has been the most crucial factor in the sales of energy bars. In addition, the evolving lifestyles of Americans and Europeans, which include the consumption of smaller meals, contribute to increased consumption of energy bars, which are the healthier choice. Thus, supermarkets/hypermarkets provide a super-sized shopping experience with suitable displays and assortments of indulgent snacking products. The proximity factor of these channels, especially in bigger cities and metropolitan areas, gives them an added advantage of influencing the snacking habits of consumers. A convenience store is a small retail establishment that sells daily goods that the average consumer uses. It may include everything from snacks to toiletries to tobacco products. Convenience stores are primarily associated with gas stations in the United States. They are often found along main roads or at major intersections in a neighborhood. Convenience stores around the world witnessed an increase in the sales of functional snacking options at the expense of indulgent ones, a trend that is set to boost the market sentiments for functional bars from such distribution networks.
Global Energy bar Market Regional Insights:North America stands in the first position in the energy bar market. The United States is known for its on-the-go, fast-paced lifestyle. In such an environment, the usage of quick, convenient, and portable snacks goes a long way. Moreover, with today’s consumers being more health-conscious than ever, these convenient energy bars provide the right kind of nourishment. The United States, being one of the most developed nations, demands highly convenient food, owing to its rapid lifestyle. According to the United States Department of Agriculture (USDA), consumers in the United States spend more than half of their food budget on convenient foods, including snack bars, thereby driving the consumption of snack bars in the country. Protein remains one of the top ingredients in the energy bar category. While plant-based protein energy bars such as peas, beans, and pumpkin seeds are on the rise, animal proteins are also being delivered in new and exciting forms in the energy bar market. Brands such as Country Archer, DNX, EPIC, and Krave have all introduced meat bars, utilizing grass-fed beef, poultry, and fish to provide high sources of on-the-go protein. Europe is the second-largest market for an energy bars. Increased consumer awareness about a healthier ingredient that provides nutritional benefits fueled the market. Consumers prefer functional fruits and grains, such as berries, hemp, chia, flaxseed, among others, in an energy bar that improves the nutritional content of the product. Impulse purchase has driven the market than healthy eating. However, health-oriented products, such as high fiber, low calorie, high protein, and natural ingredients, are gaining popularity. The energy bar is perceived to act as a healthier alternative to chocolates and confectioneries, which also drives impulse purchasing as a treat. The organic energy bar is growing popular among consumers due to its health benefits. A busy lifestyle, coupled with a meal replacement, makes energy bars an excellent snack product. Convenient and small packs allow the consumer to snack on multiple occasions in smaller quantities. The objective of the report is to present a comprehensive analysis of the global Energy bar market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the global Energy bar market dynamics, structure by analyzing the market segments and project the global Energy bar market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Energy bar market make the report investor’s guide.
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Global Energy bar Market Report Coverage Details Base Year: 2020 Forecast Period: 2021-2027 Historical Data: 2016 to 2020 Market Size in 2020: 2986.67 Mn. Forecast Period 2021 to 2027 CAGR: 5.87% Market Size in 2027: 3608.09 Mn. Segments Covered: by Type • Organic • Conventional by Distribution Channel • Supermarkets/Hypermarkets • Convenience Stores • Specialty Stores • Online Stores • Others
Global Energy bar Market, by Region• North America • Europe • Asia Pacific • Middle East and Africa • South America
Global Energy bar Market Key Players• Nature Essential Foods Pvt. Ltd • Lotus Bakeries • General Mills Inc. • Clif Bar & Company • ProBar LLC • Post Holdings Inc. • Bumble Bar Inc. • PepsiCo Inc. • EAT Anytime • TORQ Limited • OTE Sports Ltd • Kind LLC • Science in Sports PLC • Kellogg Company
1. Global Energy bar Market: Research Methodology 2. Global Energy bar Market: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Energy bar Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Energy bar Market: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-19 Impact 4. Global Energy bar Market Segmentation 4.1. Global Energy bar Market, by Type (2020-2027) • Organic • Conventional 4.2. Global Energy bar Market, by Distribution Channel (2020-2027) • Supermarkets/Hypermarkets • Convenience Stores • Specialty Stores • Online Stores • Others 5. North America Energy bar Market (2020-2027) 5.1. North America Energy bar Market, by Type (2020-2027) • Organic • Conventional 5.2. North America Energy bar Market, by Distribution Channel (2020-2027) • Supermarkets/Hypermarkets • Convenience Stores • Specialty Stores • Online Stores • Others 5.3. North America Energy bar Market, by Country (2020-2027) • United States • Canada • Mexico 6. European Energy bar Market (2020-2027) 6.1. European Energy bar Market, by Type (2020-2027) 6.2. European Energy bar Market, by Distribution Channel (2020-2027) 6.3. European Energy bar Market, by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest of Europe 7. Asia Pacific Energy bar Market (2020-2027) 7.1. Asia Pacific Energy bar Market, by Type (2020-2027) 7.2. Asia Pacific Energy bar Market, by Distribution Channel (2020-2027) 7.3. Asia Pacific Energy bar Market, by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest of APAC 8. Middle East and Africa Energy bar Market (2020-2027) 8.1. Middle East and Africa Energy bar Market, by Type (2020-2027) 8.2. Middle East and Africa Energy bar Market, by Distribution Channel (2020-2027) 8.3. Middle East and Africa Energy bar Market, by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest of ME&A 9. Latin America Energy bar Market (2020-2027) 9.1. Latin America Energy bar Market, by Type (2020-2027) 9.2. Latin America Energy bar Market, by Distribution Channel (2020-2027) 9.3. Latin America Energy bar Market, by Country (2020-2027) • Brazil • Argentina • Rest of Latin America 10. Company Profile: Key players 10.1. Nature Essential Foods Pvt. Ltd. 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Nature Essential Foods Pvt Ltd 10.3. Lotus Bakeries 10.4. General Mills Inc. 10.5. Clif Bar & Company 10.6. ProBar LLC 10.7. Post Holdings Inc. 10.8. Bumble Bar Inc. 10.9. PepsiCo Inc. 10.10. EAT Anytime 10.11. TORQ Limited 10.12. OTE Sports Ltd 10.13. Kind LLC 10.14. Science in Sports PLC 10.15. Kellogg Company